Vodacom reported strong third-quarter results, with group revenue increasing 11% year on year to ZAR43.9 billion, supported by growth across its markets and particularly strong performance in Egypt.
Revenue in South Africa remained flat at ZAR24 billion, while Egypt recorded a 43% increase to ZAR11 billion, driven by rising data usage and continued expansion of financial services. The operator noted that its data customer base in Egypt grew by 9% to reach 33.4 million users, supported by ongoing network investments including 5G deployment.
Financial services remained a key growth driver for the group. Including Safaricom, Vodacom now serves approximately 100 million financial services customers, with segment revenue rising 24.7% to ZAR4.5 billion. Mobile money platforms processed around US$500 billion in transactions over the past year, underscoring the scale of digital financial adoption across its markets.
Group CEO Shameel Joosub highlighted progress against Vodacom’s long-term strategy, including plans to increase its stake in Safaricom to 55% through a proposed acquisition valued at approximately US$2.1 billion, as well as regulatory approval to acquire South African fibre operator Maziv.
